B SERIES Software
Main Accounting Module
The Main Accounting module provides the central repository for client and matter data. Clients and Master Clients are held independent of matters and may have multiple matters attached to them. Client and Matter label facilities are provided to allow the production of adhesive labels for the client/matter files. B and C Series provides the facility to incorporate multiple entities, multiple trust bank accounts and multiple office bank accounts. Comprehensive checks are incorporated within all trust functions to allow compliance with prevailing Trust and Audit rules.
Main Accounting is the shell and support of our product. Not only does it maintain your clients and matter information, it will also record relevant information up to and including Profit & Loss, Balance Sheet items as well as the preparation of the ATO BAS.
Client / Matter
As with any computer system regular maintenance, or housekeeping is essential to ensure accuracy and optimum performance and efficiency within the system. The client/matter maintenance options enable the user to create, amend or delete name and matter details. Core information entered includes:-
- Client name and address
- Date Opened
- Name Class (industry type, referral source, credit location)
- Master Clent No (SPELLING MISTAKE?)
- AH Phone
- BH Phone
- Mobile Phone
- Contact / Referral
- Credit control flow through to sibling matters
- Matter Code
- Related Client Code
- Matter Description
- Person Acting
- Person Responsible
- Open Date
- Related Trust Bank
- Client Reference
- Send Account Rendered to
- Send Disbursement Statement to
- Send Computer Printed Bills to
- Send Trust Statements to
- Credit Limit (disbursements)
- Credit Limit (time)
- Storage Code &
- Key Search Labels
Cheques / Receipts – Trust & Office
Cheque / Receipt documents may be either drawn by hand or produced by the computer using pre-printed stationery. B & C Legal Software Solutions provides extensive flexibility in the format of cheque/receipt production. If you are already using pre-printed stationery on a computerised system, B and C Series may be tailored to use your existing stock.
Transit Register – Recording of Third Party Payments.
B and C Series Main Accounting Module allows the user to enter ‘third party’ payments as a notation against the appropriate matter without effecting the trust balance.
The billing program enables the user to access all existing time and unbilled disbursement information stored on the system for inclusion on a bill as well as the facility to add at bill entry stage any unrecorded sundry items such as fax, photocopy and telephone charges.
Anticipated future disbursements may also be included on the bill at bill entry stage.
B and C Series offers the facility to direct bills for particular matters to ‘third parties’ such as the head office of the client organisation. Fees may be split or directed to specific General Ledger codes to reflect revenue against a specific ‘profit centre’.
Fees may be ‘split’ between any number of fee earners and accumulated against each fee earner for future analysis and reporting. If the firm is using the optional time recording module, statistics will be generated to reflect under or over recovery of actual recorded time.
B and C Series also offers the facility to produce computer generated bills in a user defined format or templates used in Microsoft Word (third party product used)
B and C Series Billing provides the facility to integrate unbilled time and disbursement transactions with a range of user defined bill formats to produce computer generated bills. Features incorporated in the billing options are:-
- Option of itemised or summarised billing
- Option to direct the bill to a third party
- Full integration with the time recording process
In accordance with prevailing local trust regulations, trust monies may be transferred between matters.
Transactions may be entered onto various ledgers or matters involving transactions between debtors, disbursements and general ledger. B and C Series software incorporates a series of internal controls that ensure that all required files are updated. This ensures that the system remains in balance at all times.
Account Rendered Statements
B and C Series provides, as standard, the facility to produce Account Rendered Statements for the firms clients. Statements may be prepared using a variety of ‘filters’ such as dates, minimum balance, client code, funds in trust and analysis codes. By effective use of these filters the practice may target the production of account rendered and thus optimise the cash flow of the practice.
Many states now have legislation forcing law firms to produce regular and timely Trust Statements for clients. B Series provides, as standard, a facility that either allows the firm to produce Trust Statements on an ‘ad hoc’ basis, or, where required will track the trust transactions and automatically produce a Trust Statement. Standard letterhead used by most law firms will be suitable for both Account Rendered and Trust Statements. Customised Account Rendered and Trust Statements are available within the Account Printing module if required.
All Non-Trust, Cheque, Receipt, Billing and Journal transactions for all entities will interface direct to the nominated accounts within the General Ledger.
The Chart of Accounts and Advanced General Ledger options provided as standard with B Series. B & C Legal Software Solutions allows the user to easily customise the Chart of Accounts to suit the individual requirements of the firm and associated entities. Depending on the firm, the General Ledger may be set-up to simply offer a straight forward Profit & Loss and Balance Sheet, or may provide a range of user defined summaries culminating in the consolidation of several entities into a summary Profit & Loss and Balance Sheet. B & C Legal Software Solutions recommend that each practice review the present and future requirements of the General Ledger with the firms accountant prior to installation to ensure the maximum benefit from B Series General Ledger.
With the use of the General Ledger, timely and accurate financial reports are always available for the partnership as well as the their accountants and bank managers.
An extensive range of reports are available including comparisons to either pre-defined budgets, or previous years actual performance. As with most B Series reports, the General Ledger reports may be produced for a date prior to the accounting date by searching the transaction database for the actual transactions.
B Series Main Accounting provides, as standard, a General Ledger budget upload facility to enable automatic data transfer of budget data from spreadsheet into the General Ledger.
All transactions processed within B Series accumulate within a series of audit report files. The transaction reports are designed to be printed either daily, weekly, monthly or yearly and provide full audit details of all transactions. Standard audit reports include:
- Trust Journals
- Office Cash Book (all general banks)
- Office Journals
- Bill Journals
- Transit Register
- Client / Matter Maintenance Report
B Series offers a variety of financial reports that utilise a large range of exception filters. Operators may tailor reports to suit their individual requirements by selecting items (filters) to be either included or excluded from the report production. Typical report filter options include Fee Earner, Work Type, Ledger Type, Order of Report, Aging Categories, Notes and Date Range.
Within most report programs, the operator has the additional flexibility to produce reports as at any date prior to the current accounting date. This option allows the firm to, as an example, produce the end-of-month reports at any stage during the new month. With many accounting packages, end of month or end of period reports must be produced ‘on the day’, with no processing allowed until the completion of the report printing. With B and C Series report production options firms may continue to process into the new period and produce the required reports at a more convenient time.
Standard B and C Series reports include:
- Trust Trial Balance
- Matter Balance Exception Report
- Aged Matter Balance Report
- Financial Overview
- Trust Transfer Report
- Summary Controls
- Matter Inquiry Print
- Cash received Analysis
- Matters Opened Report
- General Ledger Print
- Profit & Loss and Balance Sheet
- Matter Credit Limit Report
- Disbursements Analysis Report
- Fee Analysis
- ATO Business Activity Statement (BAS)
and many others…
ithin most B Series report programs, the operator has the additional flexibility to produce reports as at any date prior to the current accounting date. The option allows the firm to produce financial and management reports when required.
The Fee Analysis module of B Series provides the firm with a range of options for the reporting and analysis of fees billed. All fees billed and processed via the billing program or adjusted via the office journal program produce a fee analysis transaction. These transactions may either be viewed on the screen or manipulated to form a variety of reports. Fee Earner fee target budgets may be entered for comparison with actual billing and printed in various report formats to provide statistics to the practice management on fee earner, or work type performance. As with other B Series reports, retrospective reporting exists within Fee Analysis with all reports being generated for a specific date or date range.